Blockchain oracle services firm Chainlink has added US weather forecast provider AccuWeather to further support its suite of real-world data streams. In August of this year, Chainlink, which allows data providers to migrate data to digital agreements running on the Blockchain, announced the inclusion of weather data from Google Cloud. The altcoin price has risen due to the news of the AccuWeather partnership. For details cryptocoin.com keep reading.
Altcoin project Chainlink partners with AccuWeather
Chainlink spoke with Matt Vitebsky, the firm’s director of flagship products at AccuWeather earlier this year. Saying that he has had a personal interest in Blockchain technology since 2017, Matt Vitebsky makes the following statement:
One of the important use cases is parametric insurance, and crop insurance is definitely great insurance. Perhaps to be able to eliminate this intermediary in some underserved countries in terms of insurance. Another place we look at is the futures markets.
The types of financial products that can benefit from Blockchain smart contracts combined with weather data include offerings such as parametric insurance where payment can be triggered by events such as flood or drought conditions.
Explaining that AccuWeather has a fee for accessing weather data APIs, which will be paid in LINK, Chainlink’s native token, and which developers can connect via the Ethereum Blockchain network or the Polygon Layer-2 network, Matt Vitebsky says:
We did not want to miss this opportunity. We want to be at the forefront of innovation in the airport.
With the news, LINK, which was traded at $ 17.66 in the red zone, gained altitude and rose to $ 18.59. However, the altcoin slipped into the red zone again at the time of writing.
In the meantime, let us remind you that this year the altcoin project has partnered with the Associated Press to provide sports and macroeconomic information alongside US election data.
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